One of the secret agreements between Glenfarne and the Alaska Gasline Development Corporation deals with what the state would be required to pay Glenfarne if AGDC decides the company needs to go.
“The repurchase price is based on the value Glenfarne has added to the company,” according to a leaked document that says Delaware law, not Alaska law, would govern the matter.
“If there is a dispute on the price, an independent investment bank will have 20 days from the date they are engaged to determine the final price,” it says.
Take this to the bank—there would be a dispute on the price and any investment bank that would be forced to decide in 20 days would be tempted to split the difference at best.
Read More